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The UAE’s Emirates NBD, the second largest lender in the UAE, has mandated banks for a potential US dollar-denominated benchmark loan.
Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Industrial and Commercial Bank of China and Société Generale will serve as joint lead managers and joint bookrunners.
The inaugural regulation S five-year senior unsecured Sustainability-Linked Loan (SLL) notes will be issued under Emirates NBD’s $20 billion Euro Medium Term Note (EMTN) programme.
Emirates NBD intends to allocate an amount equal to the net proceeds of the notes to finance or refinance a portfolio, the SLL Funding Assets Portfolio, of general corporate purpose sustainability-linked loans, each an SLL Funding Asset, in accordance with its sustainability-linked loan financing bond framework.
To be eligible in the SLL Funding Assets Portfolio, the SLL Funding Asset must meet all the criteria set out in the SLL Funding Framework.
The issuer has engaged ISS-Corporate as an external reviewer of the SLL Funding Framework and the SLL Funding Assets.
(Writing by Bindu Rai, editing by Brinda Darasha)
